More promotions offered to spur demand
By Dao Loan - The Saigon Times Daily
HCMC – Some 750 enterprises in HCMC have put their names down to join the 2012 Sales Promotion Month, up 7% against last year, with the total fund used to prop up purchasing power surging sharply.
|Tran Thi Tuyet Hoa, deputy general director of Saigon Co.op, speaks at the press briefi ng on the 2012 Sales Promotion Month held at the Saigon Times Group on Monday. Saigon Co.op expects their sales volume will grow by 30-40% during the sales promotion program staled for this September - Photo: Dao Loan|
Many companies expect their sales volumes will increase strongly during this occasion, heard a press briefing on the 2012 Sales Promotion Month held at the Saigon Times Group on Monday.
The sales promotion program will take place in HCMC this September. This annual event is co-organized by the city’s department of industry and trade and the department of culture, sports and tourism.
Tran Thi Tuyet Hoa, deputy general director of Saigon Co.op, said the store chain operator would set aside VND100 billion for the Sales Promotion Month this year, twice as much as last year. Some VND80 billion will be used to offer customers discounts and the remainder is spent on coupons.
The number of suppliers also picks up from 450 to 600. Such a strong investment is aimed to lure more buyers in the context that purchasing power has been shrinking since the year’s beginning.
“In the year to date, the situation is unfavorable, so we have grown by only over 10%. We hope this special program will help Saigon Co.op grow 30-40%, equal to the growth rate achieved in the Sales Promotion Month last year,” said Hoa.
Nguyen Minh Thu, deputy general director of Thien Nam Hoa Co. Ltd., owner of Thien Hoa Electronics Center, said his company would spend as much as VND22 billion on the Sales Promotion Month this year, up VND7 billion against last year’s event.
The company also joins hands with around 20 electronics groups and banks to launch 10-49% discount programs, with an additional 10-15% discount given to customers paying by credit cards.
“This is a massive discount rate for the electronics industry. This year, the situation is very difficult, so we expect our sales will surge 170%, lower than 180% in last year’s program,” said Thu.
However, with big discounts to spur demand, the company’s profit may be dwindling to the break-even point. “What we want most is to stimulate consumption,” said Thu.
During the 2012 Sales Promotion Month, in addition to discounts, sweepstakes and gifts, a sales promotion fair will be organized at Phu Tho Indoor Stadium from August 30 to September 3.
The event will feature about 430 pavilions and six market sessions for workers at industrial parks, residents in remote areas and students. Moreover, there will be mobile sales trips to bring essential items with good prices to consumers.